Spain: Staff Report for the 2011 Article IV Consultation; Public Information Notice; Statement by the Staff Representative; and Statement by the Executive Director for Spain.

July 29, 2011

Preview Citation

Format: Chicago

Spain: Staff Report for the 2011 Article IV Consultation; Public Information Notice; Statement by the Staff Representative; and Statement by the Executive Director for Spain., (USA: International Monetary Fund, 2011) accessed November 30, 2024

Summary

A decade of strong expansion in the Spanish economy led by a credit-fueled housing boom was hit by three major shocks. The policy response to Spain’s economic challenges has been strong and wide-ranging, helping to strengthen market confidence. A decisive implementation of the envisaged financial sector reform strategy would help allay lingering market concerns. A bold strengthening of labor market reforms is needed to substantially reduce unacceptably high unemployment. Further progress needs to be made on enhancing competition in nontradable sectors.

Subject: Banking, Employment, Housing prices, Labor, Labor markets, Public debt, Unemployment

Keywords: Capital, CR, Employment, Europe, Financial market spillover, FROB capital backstop, Global, ISCR, Labor markets, Market discipline, Private sector savings-investment balance, Spain, Unemployment, Vis nonresident

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/215
Stock No:

1ESPEA2011001
ISBN:

9781462340552
ISSN:

1934-7685

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